National Power Supply to offer Bt2 bn debentures
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Krung Thai Bank will offer the new debentures of National Power Supply, the electricity-generating business of Double A Group, to individual investors via its branches nationwide from April 23-25.
The proceeds from the Bt2-billion sale of the three-year bonds will be used to develop more power plants and bolster working capital, Apichai Sorpitiporn, deputy managing director of NPS, said yesterday.
The coupon rate is set at 5.5 per cent for the first two years and 6.4 per cent for the final year. Interest will be paid to bondholders every three months. The minimum purchase is Bt100,000. The issue was rated “BBB-” by TRIS Rating.
The company plans to increase the issue by no more than Bt1 billion if the offer is oversubscribed.
NPS has registered capital of Bt9.93 billion and operates eight power plants with a combined capacity of 493.15 megawatts.
Their electricity is supplied to the Electricity Generating Authority of Thailand and plants in 304 Industrial Park in Prachin Buri, while the steam that is co-generated is used by Double A to produce pulp and paper.
NPS is developing a 125MW bio-power plant to serve some manufacturers that plan to move from the industrial estates that were flooded last year to 304 Industrial Park. The bio-power plant is expected to start contributing revenue by next year.
Last year NPS earned Bt787.04 million profit on sales of Bt11.22 billion.
